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The Consumer Financial Protection Bureau (CFPB) and The Federal Reserve Board announced the dollar thresholds in Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing) that will apply for determining exempt consumer credit and lease transactions in 2021. Click here to read the announcement
The Consumer Financial Protection Bureau (CFPB) issued the final rule to modernize the Fair Debt Collection Practices Act (FDCPA.) Click here for more information on the Final rules
As a result of The Department of Education revising the eZ-Audit reporting system, NACUBO has shared a guide that addresses eZ-Audit and Financial Responsibility regulation that took effect on July 1, 2020. To read this article
The Office of Postsecondary Education maintains and shares a website containing frequently asked questions (FAQs) that pertain to the COVID-19 pandemic and the CARES Act.. Click here to access these resources
Federal Student Aid has shared that the 2021-2022 FAFSA® Form and myStudentAid Mobile app are avaiable. The application will be available until June 30, 2022. Click here to read the electronic announcement
The Department of Education (the Department) provided the 2017 official cohort default rate (CDR) notification packages to all eligible domestic and foreign schools. Click here to read the Electronic Announcement
Federal Student Aid has shared and identified multiple ransomware attacks that could have a "crippling" impacts on education institutions. Read the announcement
Federal Student Aid has released Volume 4 – Processing Aid and Managing FSA Funds of the 2020-2021 Federal Student Aid Handbook. Click here to access Volume 4 - 2020-2021 Federal Student Aid Handbook
U.S. Department of Education is working to improve Federal Student Loan Servicing. Read the blog
Training magazine, an advocate for training and workforce development for businesses, shares valuable information and resources, including development programs. Check out an article they shared regarding 5 Tips to Boost Health and Well-Being While Working from Home. To read Training magazine news and articles
Coalition of Higher Education Assistance Organizations (COHEAO) shared a "Spark Note" from The U.S. Department of Health and Human Services (HHS) regarding administrative forebearance for the health professions student loan and Nurse Faculty Loan programs during the COVID-19 pandemic through September 30, 2020. Click here to vist the COHEAO "Spark Notes"
U.S. Department of Education offers the most up to date Information and Resources for Schools and School Personnel regarding COVID-19. Click here to access these resources
Coalition of Higher Education Assistance Organizations (COHEAO) shared a "Spark Note" regarding outreach to fight to restore the Perkins Loan servicing Administrative Cost Allowance (ACA). COHEAO and their members are looking for support from schools to contact legislators and staff who represent state Appropriations Committee. Click here to vist the COHEAO "Spark Notes"
U.S. Secretary of Education, Betsy DeVos announced that more than $6 billion in emergency cash grants will be distributed to colleges and universities impacted by COVID-19. To read this announcement
ED shares guidance to school officials that may have concerns regarding disclosure of personally identifiable information (PII) when addressing Coronavirus Disease (COVID-19). To access the page and download the document
InsideARM shares COVID-19 Impact and Resources including: Debt Collection Prohibitions, Federal Notices, State Notices, External Resources, Webinars, Whitepapers and Tech Provider Solutions. To access these resources
ACA International shared with its members resources on managing business operations during this national emergency as a result of coronavirus (COVID-19), including updates from state regulatory agencies obtained by ACA Officials. To read this news
Other valuable resources:
NMLS Resource Center
State Agency Communication/Guidance on Coronavirus/COVID-19
FDIC: Frequently Asked Questions for Financial Institutions
ConServe is a proud member of ACA International and a Professional Practices Management System (PPMS™) certified agency that you can trust. Currently only 1%, of the more than 6,000 collection agencies, have achieved PPMS™ certification.
Federal Student Aid shared guidance for interruptions addressing concerns by higher education leaders about complying with Title IV, Higher Education Act (HEA) policies for students impacted by COVID-19. Read the announcement
InsideARM shared that the U.S. House of Representatives passed H.R. 5003, Fair Debt Collection Practices for Servicemembers Act with a unanimous vote, 355-0. The bill is now being reviewed by the Senate. Read the article
Federal Student Aid shared information from the U.S. Department of Education regarding steps they are taking to ensure confidentialy, security, and integrity of student and parent information related to federal student aid programs. Read the announcement
Federal Student Aid shared information regarding Title IV, Federal Student loan programs particpants with information and a new form regarding Forgery Loan Discharge process for U.S. Department of Education held loans. Read the announcement
The Consumer Financial Protection Bureau (CFPB) released a policy statement on January 24, 2020 regarding the framework that it will use in enforcement activities related to the catch-all category of “abusiveness.” Click here to view the policy statement
Federal Student Aid has shared a series of updates to the quarterly application, disbursement, and portfolio reports available on the FSA Data Center through September 20, 2019. Including: Key findings for Loan Portfolio Overview, Application Volume, Income-Driven Repayment Enrollment, New Defaults and Delinquencies, Borrower Defense to Repayment Report, and Public Service Loan Forgiveness. FSA also shared notes to accurately interpret the data. Read the announcement
CFPB shares tools and resources to help students, young adults, and their families manage their money, building credit and paying for college and student loans. Click here to visit the CFPB webpage
Federal Student Aid has announced the availability of the updated NSLDS Enrollement Reporting Guide (November, 2019). To access the NSLDS Enrollment Reporting Guide
Federal Student Aid has released Volume 6 – Campus Based Programs of the 2019-2020 Federal Student Aid Handbook. Click here to access the 2019-2020 Federal Student Aid Handbook
The Department of Education (the Department) has provided information about the Federal Perkins Loan Revolving Fund Distribution of Assets and Timelines for 2019-2020. Click here to read the electronic announcement
The Department of Education (the Department) has provided access to the documents that represent the National Default Rate Briefing for 2016's offical CDR. Click here to read the electronic announcement
The Department of Education (the Department) determined that it has the authority to reimburse institutions the institutional share of Perkins Loan Service Cancellations from the Perkins Fund. Click here to read the electronic announcement
The charts show the variable interest rates applicable to the Federal Stafford, Federal SLS, Federal PLUS, and Federal Consolidation loan programs for the period July 1, 2019 –June 30, 2020. Click here for details
